Not being one for subsidies, I certainly appreciate the tangled web we are weaving with this increasingly “mixed” economy. However, I take no small pleasure in reading how the Export-Import Bank has reversed itself in the face of political attention, heat and embarrassment, agreeing to reconsider financing for a coal-fired power project in India and thereby “creating or saving” 1,000 jobs in Wisconsin.
Subsidy aside, the plant in India was coming on line soon regardless, and ExIm like every other agency touched by our current president’s radicalism has slipped the rails into green moonbattery. Which means the money would otherwise have been squandered on some feel-good wastefulness (or maybe some more offshore drilling… off Brazil‘s shores, that is).
So, in sum, that’s terrific. Oh, by chance this reversal coincided with a townhall speech by President Obama touting his economic prowess. In, ah, Wisconsin.
Now, please Mr. President, could you take your show on the road to Ohio, Pennsylvania, Kentucky, Virginia, West Virginia, Missouri, Indiana, among other states that would be most directly impacted by your radical anti-coal, indeed anti-energy agenda?
Just guessing here, but maybe this would coincide with granting them a reprieve, too? (Alternately, maybe someone can talk George Soros into parking some of those profits from the Brazilian offshore drilling play in domestic coal?)